COMMERCE OBJ:
1-10: BDBDCBADBA
11-20: CDACBCDCDB
21-30: BDADBABDCA
31-40: CCDCDCCAAA
41-50: BBDADCCADD
Commercs theory answers
By teacher of all teachers
Accoording to the question u guys send
(1)i.Commerce provides employment;-it provides employment to countless individuals in that many are involved in wholesale and retail trade while others are engaged in banking ,communication,insurance,advertising,warehousing and transportation businesses for their livelihood.
ii.It aids both national and international relations;-commerce helps in national co-operation within a country.different types of goods produced in one part of the country are exchanged between states in the country.
iii.It improves the standard of living of people;-It helps people to have assorted goods at their disposal from different parts of the world whee they are available.
iv.It assists in the safe-keeping of goods;-Commerce helps in saving and preserving goods until they are pushed to the market.
v.It brings about development of infrastructural facilities;-Most developing countries depend on the services of advanced countries in developing their infrastructural facilities.
(2a)features of self-service shops are;-
i.Trays and baskets are provided at the entrance which customers pick to collect items of interest.ii.Goods are displayed on shelves with price tags in such a manner that customers can move freely to collect goods of their choice.
iii.Goods are attractively displayed on shelves in such a way that the products can induce impulse purchase on customers.
iv.A wide axis is created between shelves so that customers can move with ease while picking items of interest.
(2b)Disadvantages of sel-service shop;-
i.Lack of personal attention;-the system does not provide credit facilities,delivery services or after sale services to customers.
ii.Extra equipment requirement;-Self-services system require extra equipment like adding and listing machines,cash registers,baskets,trolleys or trays and adequate shelves and space for easy movement of customers while making their purchases.
iii.Shoplifting is common under self-services shop and that is why security men are often employed to help minimize shoplifting
iv.High overhead cost;-The business experiences high overhead cost in using heavy lighting system,fan,or even air conditioners.
(2c)Importance of working capital are;-
i.It is a capital utilized in the daily transactions of a business.
ii.It is also used in making sustainable provisions for fixed assets.
iii.Working capital is primary in making of profit by any business.
iv.The activities of the business is performed through its working capital
(4a)Marine insurance is the insurance taken to cover ships,cargoes and passengers involved in sea transportation against the perils or risk of sea transportation like damages,fire,pirates activities,war,thieves,storm,etc.
(4b)Accident insurance is the type of insurance taken by owners,travelers to cover risks resulting from obes personal injuries as a result of his work like losing limb,eye,any member of ones body while working with industrial machines.
(4c)Group insurance is the type of insurance taken by the employer for all his employees.The employer pays the company premium yearly for this policy.
(4d)Fidelity Guarantee insurance is the type of insurance that covers the risks associated with infidelity or dishonesty of certain grade of workers placed in position of trust in an organization or any office
(4e)Consequential loss insurance covers losses resulting from indirect loss which accompanies an insured loss,such as loss of earnings resulting from a burnt down business that was insured against fire.
(5a)Functions rendered by a courier firm includes;-
i.They make it possible for items of delivery to get to their destinations within a day or next,most of the time
ii.Goods or items of delivery are delivered personally by their staff at the door steps of the customers.
iii.Where documents have to be taken from the bank and delivered to the owner,takes less time than a normal bank transactions.
iv.They offer cordial and personal services of coming to the door step of the customers to pick items of delivery.
(5b)i.Telephone services;- It provides telephone services to the public for both domestic and intenational calls,thus meeting the needs of personal and business calls.
ii.Telex;- This is a means of recording on a tele-printer printed messages sent by cable.
iii.IDD Telephone services;-This aids people to make international calls
iv.Maritone mobile services;-This takes care of emergency services to the people
v.Subscriber Trunk Dialing (STD);-This is a system whereby one can dial directly to another subscriber without going through the exchange.
vi.Transmission and reception of line telecast;- NITEL has line telecasts and programmes from the main station to other sub-stations and also from main channels to other sub-channels as the case may be
(8a)Turn over is the total net sales of any business within a given period of time minus the cost of goods returned back to the business.
(8b)i.Goodwill and reputation of the businessman;-A businessman with a good reputation,and who has the good will of being honest,polite,sound public relations,gives prompt services,always has the advantage of high customers patronage
ii.Advertising and sales promotion;-Business that utilizes advertising and sales promotion extensively records a high rate of turn over than others.
iii.Pricing techniques;- Business that applies low pricing techniques enjoys high rate of turnover than those with high pricing techniques.
iv.Use of credit facilities;-where a businessman grants credit facilities to customers,he will sale more,than where credit facilities are not offered to customers.
v.Location of business;-well located businesses especially those located in busy centres,hearts of the cities knonw by such businesses are bound to record hugh rate of turnover than others
vi.Seasonal goods record high rate of turnover during season and records very low rate of turnover during off season.so, businesses involved in such seasonal goods should know how to adjust
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